Specialized Loans

Find out if your home buying situation could make you eligible for a specialized loan from PNC.

 

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Specialized Loans Facts and Figures

 

80-10-10

The 80/10/10 Combination Loan[1] consists of a first mortgage from PNC for 80% of your home’s value, a PNC Bank home equity line of credit for 9.9% of the value, and a 10.1% cash down payment.

  • Standard fixed or adjustable rate terms
  • Loan terms between 15 and 30 years
  • Interest on home equity line of credit may be tax deductible[2]
  • Avoid private mortgage insurance (PMI)

 

PNC Community Loan

This specialized program provides eligible homebuyers with more options.

  • No private mortgage insurance (PMI)
  • Low down payment and minimal cash reserves
  • Gift funds are allowed as part of a down payment
  • Standard fixed or adjustable rate terms

 

Rural Housing

When you’re purchasing a home in a rural area, you may be able to access special loan programs and terms through the United States Department of Agriculture (USDA).

  • No down payment
  • Refinancing of eligible loans
  • New or existing residential property to be used as a permanent residence
  • Closing costs and reasonable/customary expenses associated with the purchase may be included in the transaction

Medical Professional

Our Medical Professionals mortgage takes your unique needs into account and is specifically designed for interns, residents, fellows or doctors who completed their residency in the last five years.

  • Gift funds are allowed as part of a down payment
  • Loans up to $1 Million
  • No Private Mortgage Insurance
  • Primary residences only
  • Standard fixed or adjustable rate terms

 

$1500 Grant

You may qualify for up to $1,500 toward closing costs. And make buying a home of your own more affordable.

  • Standard fixed or adjustable rate terms
  • Loan terms between 15 and 30 years

If you qualify for this credit by meeting income requirements[3] or residing in a qualified community[3], you can use it to:

  • Reduce or eliminate your mortgage closing costs
  • Cover other prepaid costs (establishing an escrow account to cover property taxes, insurance renewals, etc.)
  • Apply toward a down payment

 

Ready to Apply? Let's Talk

Discuss your preferences, learn more about your loan options, and see if you are pre-qualified.

Online:

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With a Loan Officer:

We are available at branches nationwide to discuss your preferences, learn about your loan options, and see if you're pre-qualified.

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Mortgage Made Easy

Getting a mortgage doesn't have to be intimidating. Find out how the process works, from getting prepared to closing.

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Important Legal Disclosures and Information

  1. Loan requires two separate applications subject to two separate approvals.

  2. Interest on home equity loans/lines that are not considered home acquisition debt may not be tax deductible. Please consult your tax advisor. 

  3. A PNC Mortgage Loan Officer can help determine your eligibility for this offer. To qualify, borrower’s household income must be at or below 80% of the median household income for the metropolitan statistical area (MSA) or the financed property must be located in a low- or moderate-income census tract as designated by the FFIEC.

The PNC Closing Cost Assistance Grant may not exceed actual closing costs and prepaids.

The PNC Closing Cost Assistance Grant may be applied to primary residence purchase or limited cash out refinance transactions (purpose of refinance must be rate and term only).

PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.

The PNC Financial Services Group, Inc. All rights reserved. PNC Bank, National Association. Member FDIC